As per a Notification dated January 19, 2010 the Reserve Bank of India has facilitated the direct hedging of currency risk in other currency pairs apart from US Dollar (USD)-Indian Rupee (INR) in recognized stock exchanges. Until now, persons resident in India were allowed only to trade in USD-INR futures contract .However, three more currencies have been added –the euro, the yen and the pound sterling with immediate effect. The settlement price for USD-INR and Euro-INR contracts shall be the Reserve Bank’s Reference Rates and for GBP-INR and JPY-INR contracts shall be the exchange rate published by RBI in its press release on the last trading day.